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france should give itself more leeway to meet mission targets. the company's 3% of gdp with more pressing -- than cussing excess from public finances. the imf has warned against more tax hikes warning these could further restrict growth. he says it's built a bit of momentum, but still needs to do more. >> france has to reform. france cannot -- that can avoid reforms. it can be again reforms which might be different. but we need to reform. let me say that from that perspective, the recent decisions going the right direction and i think that the government has understood the need to help companies create jobs. so what is important is that this momentum is there going forward. i mean, the momentum, positive momentum regarding the negotiation between the trade unions and the corporate buddies to give more flexibility to the labor markets, to give the ability for corporates to adapt more quickly. it's very important that the government complies with reducing the budget deficit and reducing public spending. we have too high level of public spending. and if you reach the level of taxes is too hi
to france and the u.s. for help against a rebel coalition that has vowed to topple his government. france has declined to intervene against the rebels who have already taken several towns and are now advancing on the capital. >> heavy snow has paralyzed large parts of eastern canada. in montreal, traffic came to a virtual standstill. police are telling people to stay at home, as some areas are expected to receive almost half a year of additional snow. well, we are going to a short break. after we come back, we will look at europe's crisis year 2012. >> we will find out how it will be a year to forget for one of germany's top swimmers. stay with us. >> welcome back. in just three days' time, we will be seeing up the old year and welcoming in the new, but before that, we will be taking the chance to reflect on some of the main events of the task 12 months. >> in europe, it was all about the debt crisis. greece and spain were the worst hit. >> eventually, it was the european central bank's controversial bond-buying program that manage to come down the markets -- calm down the markets. >> ger
. pressure is increasing on israel over its plans to build 3000 homes in palestinian areas. france, britain, and spain are just a few of the countries which have summoned israel's ambassador to express their concerns. there are warnings that new settlements in east jerusalem and the west bank could threaten the very viability of a two- state solution. >> israel's prime minister does not shirk controversy and is not afraid of upsetting his friends, but benjamin netanyahu might suddenly be feeling rather isolated. a number of european countries are upset over the thorny issue of settlements. for years, israel has been warned by allies that continued expense of israel's settlements on occupied jewish land is detrimental to a two-state solution. it was when israel signalled its intention to develop this strategically-important area known as e-1 that the row intensified. if this big piece of land was to become a jewish settlement, detractors say it would be the final nail in the coffin of the two-state solution. with dozens of jewish settlements already in the area, it is argued that developing
it. they said it would drive away france's wealthy population. joining me now on the phone from paris is katherine fields. she is a correspondent for global radio news. katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded law that just didn't pass the constitutional barrier. >> you know, it is kind of confusing. the president actually campaigned on this75% tax. what happened, and will he try to get it reinstated? >> you are quite right. he made this a key platform of his manifesto. he has gone all out on this, and he even dressed up the tax as an act that the way france's rich could help during harsh economic times. he has not backed down and in fact in t
drive away france's wealthy population. joining me now on the phone from paris is katherine fields. she is a correspondent for global radio news. katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded law that just didn't pass the constitutional barrier. >> you know, it is kind of confusing. the president actually campaigned on this75% tax. what happened, and will he try to get it reinstated? >> you are quite right. he made this a key platform of his manifesto. he has gone all out on this, and he even dressed up the tax as an act that the way france's rich could help during harsh economic times. he has not backed down and in fact in the last few hours the off
. >> juliet: president obama continues to push for tax hikes on the rich. and france lost a bid to raise taxes and he want today raise to 75%. now, there weren't a lot of people he was focused on, really not that much money, he was going to raise, but the fact is he wanted the french judicial council, however, said it would have been excessive and unconstitutional. joining us-- >> sorry, dave. >> dave: and for tax foundation from the heritage foundation. >> juliet: good morning, curtis. >> good morning. >> dave: what's the deal here, the decision made is not unconstitutional, but bottom line, bad for the economy? i think we can learn from this? >> that's right, the court has bailed them out. and the tax increase, 75% rate was going to really damage the french economy. the french economy's already strugglingling and adding on the economy would be worse. >> i'm looking at it, expected to be a temporary two year measure and affect 1500 people and raise less than 661 million dollars. >> but the revenue we brought in, and what it would have done, it would have reduced the incentives, and working an
firmer agt the dollar. this is bank of france governor says the city of london should no longer be the main trading hub. is he whis links in tling in th is it doable? >> i think if you look at the figures they speak for themselves. at the moment 40% is actually this london compared to maybe 3% in france, 2% in germany, and it's not just that london dominates, but that the long term trend is actually away from france and germany and towards london. so a tough challenge for the ecb. >> so even if eurozone banks -- i suppose can they lean on eurozone banks to move their trading floors to paris and frankfurt. i don't know. >> that's true. and the fact is with currency, it's not just about trading the euro, it's what you trade on the other side, as well. london is the center for fx liquidity. that's the way it is. so the direction of things is not favoring anybody moving their trading floors towards mainland europe. >> fair enough. so what happens to the euro? we're sort of near a range high here at the moment. and how much problems are there going to the at 1.3050? >> it's an intere
of oscar contenders. but our critic says there is a bad one in the bunch. and why the people of france may soon be left in the dark. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's thursday, december 6th. i'm angela miles. in today's first look: a miss-matched market! the dow moved above 13,000 while the nasdaq was weighed down by apple. apple fell 6% yesterday, the worst drop this year. treasury secretary tim geithner says washington lawmakers are inching closer to deal on the budget. the sec is breaking up an alleged insider trading scheme that involved tip-offs on upcoming merger deals. 10 people are charged, including a banker from wells fargo. and the nasdaq is blaming human error for the ipo delay of small biz lender whitehorse finance, which was supposed to start trading yesterday morning. shares fell 6% in its delayed debut. joe cusick of optionsxpress joins us now. good morning joe. good to have you back on the show. > > thank you. > yesterday we had a trader talking about a potential rally in th
. britain had three, was slowly losing common-law, france, germany and most european states had three, but some european states saw their religious character already beginning to fade. but around the world in africa, asia, latin america, few states had common-law and property rights with titles and deeds. america first came to world prominence after the spanish-american war ended in 1898. at the first time, it's argued that the u.s. acquired an empire with cuba and the philippines. yet, this were only revealed the deep differences between america and everyone else in history. for one of the first things, the american congress did after the war was pass a law requiring the united states to give up the cuba. one searches in vain for major world power to ever voluntarily departed from concord region. at the 20 century gun, a group of liberal elites who embrace the program loosely known as progressivism, challenging, criticized these four pillars. most were hostile to common-law with president woodrow wilson being the prime example of one who thought the constitution needed tv malleable a
to either britain or france. she was among the president's top campaign fund-raisers. >>> and this morning, a powerful teachers union is trying to raise the bar for teachers, calling for a tough, certification test, not unlike the bar exam for lawyers. the federation of teachers want to maintain a 3.0 grade point average and have ten hours of field experience. sound like good ideas. >>> the flu season has arrived already. the earliest in nearly a decade. officials are warning the primary strain making the rounds right now is more severe than others, especially for the elderly. >>> finally, a reminder. never a good idea to show off. a man who writes for a motorcycle magazine in france, test driving a snazzy new yamaha, along the waterfront. we all know -- oh. >> what? >> how did it happen? he took a right, elizabeth. >> he bumped -- looks like he bumped into something. and what bad luck to fall into a boat? >> very bad luck. i assure you, as i do in cases like this, no one was hurt. pride, though, that's another story. >> that wounded ego. >> it was in france. >>> let's get to lara in londo
it is confident that the waterway will remain open. a new report says champagne sales in france are down nearly 5% from last year. despite the weak sales, france still consumed the most to give more than 170 million bottles in the last year alone. that is the latest from the fox business network. giving you the power to prosper. ♪ with fidelity's new options platform, we've completely integrated every step of the process, to get a list of equ. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. dagen: pending home sales rising in november for a third straight month. now running at the highest level we have seen in two and a half years. will that continue? joining me now is anthony sanders. we have seen it all week and all the numbers lately. can it continue as we watch this fight go on down in defeat? >> the good news is, i think it can continue. just superlow inte
imposed that ban earlier, armstrong's seven tour de france victories were erased. armstrong signaled he has no intention of appealing the ban before today's deadline. >>> time, now, for more sports. >> here is espn news. >> good morning. randy scott here with your "sportscenter" update. great night in the nba. a great finish in phoenix. it was the knicks taking on the suns. no carmelo anthony. no raymond felton for new york. yet, they're only down two. 15 seconds to play. j.r. smith, never met a shot he hasn't liked. had a season-high 27 points. but he saved his best for last. one second to play. here's mike breen on the call. >> smith catches, shoots. puts it up. puts it in at the buzzer. j.r. smith with another game-winner. >> mike breen, calling it as he sees it. his second game-winner there for j.r. smith in the month of december. celebrate however you want, young fella. >>> then, it's steve nash and the lakers. they're taking on the nuggets in denver. the nuggets got taken by the clippers in los angeles. kobe bryant tried to do the same. he went for 40. he has 4 40-point games this
after microsoft in france that was a bigger case. but, i am thinking this more threatening to american companies, this is england saying, we're targeting just you. >> no, britain actually has chairmanship of g-8 next year. at end of day u.s. government, a trillion dollars in revenue, so they will look at loopholes in u.s., and internationally. neil: they will want to first cut loopholes there that would make it less attractive, if you are barack obama you should be rooting for this. that means less attractive for those company to do over there and stay here. >> u.k. prospects should be subject to u.k. corporate tax. neil: should you pair spending in other areas to adjust. >> spending is very much down in the u.k. that is the problem, that is the argument shared sacrifice. neil: what about the princess? >> i told jonathan hunt last week that i thought kate middleton is pregnant, i am pleased to be right. neil: she has very bad morning sickness. >> which is why it was revealed early, it was revealed 12 weeks, it is to be expected. the role of the roll wife to provide an heir and a spare
.hoo it works... and how close it is to hitting the market. plus a seriius shortage of áspeemá... in france.what experts think could be to blame... for a recent drop in numbers.you're watching fox 45 morning news.. all looal.. all morning. ((break 2)) [ male announcer ] there's everyday chicken and then there's juicy chicken with hellmann's ♪ hellmann's is the secret to making parmesan crusted chicken... [ bell dings ] ...so crispy so juicy so delicious it's your secret to making dinner disappear hellmann's. bring out the best to making dinner disappear new this morning... the pilitary is being told to start planning for billioos of dollars in possible budgee cuts. ttat's the latest order from the white house.as part penttgon may have to cut as much 500-billion from its budget... over thh next 10 years.that could be on top of other defense department cuts already in the pipeline. the pentagon says cuts would most likely arget ressarch and technology, weapons aad civilian defense department jobs. a new study finds the pills... could actually eliminate the drug's effectivvness in reducing
allen with the top stories from "politico." and mika should be jetting in from the south of france just in time to say hello to her father. first, though, let's send it to bill karins with a check on the forecast. >> good morning to you, joe. you got to d.c. a day too late. yesterday, it had to have been the warmest day you'll see probably till about april. it was 72 degrees yesterday in washington, d.c. it was even in the 60s all the way as far north as buffalo, syracuse and rochester. things are coming back to reality. cold front's heading through. chillier air is arriving, especially western new york. some showers out ahead of that front. if you're leaving the house now in maine, coastal new hampshire down through boston out on the cape, you're going to get light showers over the next hour or on two. you also have a few showers that will be ending shortly. look how warm it is when you step out your door. even at this hour, philadelphia. but look back to your west. the colder air is arriving. already in the 30s, pittsburgh and buffalo. and even buffalo could get snow showers later on
, more than the entire radio industry in the uk commentary view industry in france. just unprecedented level of royalties. liz: you have some conservatives in congress saying you shouldn't have congress dictating what should be royalty rates, it should be just left open to the free market. do you agree with that? >> we do not agree with that. radio in this country and around the world for decades has been subject to license because you cannot have tens of thousands of radio stations making individual agreements with hundreds of thousands of artists. it folds down fro for my market efficiency standpoint. we don't want congress to set the rates but we want them to put a structure in place that can consistently deliver rates that all parties, innovative services, all agree upon. liz: i cannot let you go without ringing up, and don't roll your eyes, but the stock moves every time it floats in the market. if apple were to enter the internet radio space you guys face these royalty issues effectively they have dealt with that through itunes and they would have so many names at listeners finge
be if this is the top. certainly you saw money moving to the safer area of the bond market, for example, france, so the prices rose in france and it pushed the yield below 10%. there you go, pushed the yield on the ten-year below 2%. that rally to the core, france and germany, as you might expect. as far as stocks are concerned, generally we're stuck below horizontal resistance on the dow jones stock. if we break above that, it could be significant. ? we fail it could be significant. earlier in in china on the comment we got from the new head of the communist party, you have the best gains in three months on the chinese market. that fed automatically into the miners in europe. there has been some selling into it, but still broadly they are still higher. i do want to mention a couple corporate stories. apple is clearly down, margin requirements are being raised on some of those -- for some people who are extending apple shares, but nokia has had a very good day today. it's launched two phones, one priced at $249 to bring it light slid lower price for most people. most importantly launched a phone in
in the world. france, 2.08. the u.s., 2.06, ireland, 2.01. in red, they're looking at next generations that will get smaller and smaller and smaller. the uk, well under 2. china, 1.55. we know they've actually implemented policies because they want to control population. in the bigger picture, fooling around with mother nature in this way could have hugely negative consequences. russia 1.43 and germany, 1.41. at the very bottom of the list, other than certain countries where the information is not available, the bottom of this list was singapore at .78. i know we're dealing with so many issues nowadays and i blow a gasket over many of them, whether fiscal cliff, unfunded liabilities, at some point, growth is the answer. when you start considering where the engines of growth have been and what their population declines may be, it makes one wonder, where is the horsepower from global growth will come from and this at some point needs to affect the picks in your stock portfolio. back to you. >> rick, i'll take it from you, rick santelli. >>> even starbucks is worried about the fiscal clif
the united kingdom, france, germany, china, russia has ratified it. now you can pass anything in the senate with 60 votes. except treaties which require 66. a two-thirds majority. every democrat voted for the treaty and only eight republicans voted for the treaty. 38 republicans disgraced themselves and disgraced the senate. by voting against it and controlling the outcome. john kerry tried everything he could on the senate floor to show republicans the way to vote for this treaty. >> it really isn't controversial. what this treaty says is very simple. it just says that you can't discriminate against the disabled. it says that other countries have to do what we did 22 years ago when we set the example for the world and passed the americans with disabilities act. >> the treaty was supported by organizations representing people with disabilities and veterans groups but that was not good enough for 38 republicans. it was supported by senator john mccain, himself a disabled veteran. >> bob dole has been our leader on the issue of disabilities from the moment he stepped foot into the chamber. to
in switzerland, netherlands, sweden, france, germany do better than us? how is that possible? because of you, washington. it's because of you. we've been kept back all because of you. second, before our politicians stepped in with their intransigence and anger, we were about to have an explosion in earnings. retail was as strong as i've seen it in a decade, autos back incredibly robust. and that's just the beginning. because all the pent up demand. we're running short of office buildings, shopping centers, apartments, homes, these are the hiring sectors, all this blather about helping the small businessman of subchapter "s" for private and middle class, you want to help them? give them a deal, any deal, just get out of our way for heaven sakes. our country is starting to get so competitive, again, that businesses building things over there now want to build them here. tim cook tells brian williams that his company's going to make macs in this country. we're better than china. meanwhile our energy costs are plummeting courtesy of the cleaner, cheaper fuel, natural gas. so cheap here it can be
. in both france and england we've seen a tremendous amount of steps taken for tax avoidance when they hire -- >> people leave. >> my only question, there have been studies done on that in the united states to figure out what the effect would be. my second question would be, back in '08 when the president was debating hillary clinton accepted the concept that every time we've raised capital gains tax, the receipts from that have gone down. every time we've lowered it, they've gone up. he accepted that. i want to know if his opinion is modified or is he considering laying off tax and business investment for fear that it will give us less of it. >> two very interesting questions there about what effect a change in taxes does to behavior. i think you can't deny the fact that it does change behavior. is there right. it is very complicated math. when they start saying it is math, it is really complicated math. you show me someone who can do that study -- >> it goes back to that idea, you raise a tax on something, you'll get less of it! >> no doubt about it. >> jim iuorio, thank you. >>> reminder
france to tour deshame, lance armstrong's name is tarnished over doping allegations that haunted him for much of his cycling career. he is stripped of all seven titles. hulk hogan gets his hands outside the ring. his sex tape going viral this year. elmo puppeteer kevin clash resigning after 28 years, accused of having sex with underage boys. >> 9 clash 9 clash 9. >> and 9/9/9 all but forgotten. herr maine cane -- herman cain ending a presidential bid saying cheating rumors were ruining his marriage. arnold schwarzenegger with very public details on his cheating scandal. the 22-year-old kristin stewart admitting guessing too cozy with her director. john travolta has two male therapists file lawsuits against him claiming sexual assault. and the paparazzi getting, well, up close and personal with a topless sun-bathing kate middleton. >> what do you have to say about the verdict? >> 2012, one of the most infamous cases of sexual abuse. former penn state assistant coach jerry sandusky sentenced to at least 30 years behind bars for sexually abusing young boys. the late -- [inaudible] of th
five, france. taxes are an issue there. i think the election of francois alaund and his rate on the top end as well as some of the other things he's doing in france, lowering the retirement age, this is sort of a litmus test in some ways and it's important. maybe richard can tell me i need to learn more about the british tax code. icons on the edge. a number of names you know at home, jcpenney, best buy stock has been hammered, the maker of the blackberry, once iconic, now struggling. >> they're gone. >> they're not gone. >> last one. congratulations. >> they're struggling, and i think it's the end of an era for some companies. the $25 billion bank settlement, a huge deal. some people said it was not enough. whatever your thoughts are, it was a big story. facebook, you remember them? they have come back in the last six weeks. everyone thought this was an ipo that was going to soar. >> who manages that company? >> mark zuckerberg. that guy right there. >> poorly, i would submit. >> he built it, so who are we to judge, right? maybe the public company is a different story, but that ipo flo
is expected of shooting three people and the darts charger as they went south on 1 loss and avenue of france. authorities believe that he targeted that car because of road rage or a previous dispute. all three people in the dards chargers suffered minor injuries in that shooting. authorities in contra costa county have arrested a 38 year-old homeless man in the strangling death of another man at a homeless camp in concord. james riley was arrested on suspicion of homicide yesterday after a fight left 47 year-old gerald nagle dead at the homeless can. it is unclear why the two men were fighting in the first place. riley is currently being held at the right team as jail. >> the bizarre sight of a millionaire damp john mcafee has got an even stranger. these new pictures show him being taken to hospital in guatemala. he reportedly collapsed after being told he would not be granted political asylum. mcafee is the founder of the company that bears his name. he has been on the run for three weeks wanted for questioning in the shooting death of his neighbor. mcafee is being treated for stress hypert
of the gunman had just returned, short trip along to a luxury resort in new hampshire. france and greece the years she felt comfortable about leaving her son adam at home unsupervised. >> democrats say that the gop plan will not make it past the senate. beyond that the president has already said he will veto it if it gets to his desk. the back- and-forth continues in congress and hopefully by january 3rd they will get the deal done. we will be back in just a moment. >> the tool yet to yield the camera of america's most popular car fare poorly in a new front crash test by at the insurance institute for highway safety. in the test the camera is a front wheel ended at bending the passenger compartment foot well in word. the steering was pushed off so far the air bags did not deploy. the toyota pre as the hybrid wagon didn't perform any better. it also earned a poor rating. honda's accord sedan and this is to keep his eye she receives the institute's stock rating of good and the crash test. general motors is recalling nearly 119,000 pickup trucks in the u.s. because of that can fly open unex
short. >> i had a chance to see a lot of my family in france. >> the holiday has been really good. >> i was here visiting my brother and our family was out of minnesota. >> for those of you who are leaving and for the most part of the airport manager told me that the are arriving flights are on time. if they stated that the only delays are for those that are headed to newark. they are at an hour delay. this is the pitcher perfect way to end a vacation is for you to our arrived home safely. >> officials have been scrambling to repair a levee in east palo alto that was breached during heavy rains over the weekend. crews placed sandbags where the san francisco creek topple the levy. sunday is the flooding forced people in seven homes to evacuate. kron4 alicia reid is in east palo alto with the latest period >> this has collapsed and the home behind it is clearly cleared out. >> a weekend of flooding caused-- >> the next couple of days our staff will be working with the owners in order to begin some of the repairs that are necessary. >> six other families were evacuated and there now and ho
france titles could now lose the bronze medal he won back in 2004 during the olympic games. we will keep you posted. dennis: netflix shares falling to do a bit after 14% surge yesterday on the new deal with disney. netflix will pay $300 million per year ende and compete with o and showtime. focusing on original shows such as hbo boardwalk empire and showtime's homeland. the cost of the deal and how exclusive it really is. and for the coffee addict who has way too much money to spend, there is this. $450 starbucks gift card made of stainless steel. only 5000 are being made and you can buy it only on guilt.com on friday. one key question, what do you do when you've used it up. frame it or refill it? airing from 1967 until '75. in television, nothing succeeds like the trend. cheryl: because hawaii 50 has been a huge success. they thought it would be horrible. huge ratings. dennis: the long tail. cheryl: i will send a media thing for. korean pop singer psy whooping it up "gangnam style" all the way to the bank with 1 billion views on youtube. the hit songs now said to make psy a multimillion
is even further down. >> oh, no. >> france is down as well. france is just a notch above. >> so why is the united states and germany both number 16? >> well, i think it's to do partly with the economic prospects which are not so great. also to do with things like crime rate in the united states, people like to feel safe and they feel safer in some of these european countries and australia does work very well, too. >> what's great britain's problem? why are they -- >> many problems in britain. not the least we have not such great economic prospects prepared for a lot of these countries. and we have high rates of social problems as well. >> a lot of it is to do with social cohesion. when you look at the countries in the top, switzerland, australia, denmark, singapore, they all have a strong sense of national and social cohesion and i would say one of the questions that really affects quality of life in a country today is do people feel they're pulling together and feel part of society or not? >> is there a consistency about the top countries, what they're doing in terms of economic pl
and i were in the same town in france at the same time in college. >> are you kidding? >> you've got parallel parking, popping the bottle, popping matt on the rear end. take notice. coming out hot. >> same thing happened to my career. don't worry. we talked about the differences between men and women. they say that men have a much easier time when you're at the mall and you park your car. you go in and shop, come out, tracking it down. they say women have less, i don't know, spacious direct? >> really? i would think the opposite. i think women are more organized. my wife, anyway. i have to do a device. if we are on level 5 section f, i have to park under the sign with an "f" on it. my friend dennis was number five in high school and add an "f" to it. i'm not the quickest. what about you? >> i don't remember where i parked anything. you know what i realize? i remember less and less about everything. i was in a show and someone sat next to me and he said hi, and you're please, something. i couldn't remember anything about this guy. i felt like i just met him for the first time and i ha
and gentlemen, france, -- friends, -- her work focuses on the intersection of law, business, and morality. she has been a speaker and panelist for events and organizations around the world, including the clinton global initiative. in 2012, she was named a top observer of the economy by the agenda at product. her newest book is the "shareholder value meth -- how putting shareholders' first harms' investors, corporations, and the public." that as a tablet find irresistible. please welcome -- a title i find irresistible. please welcome the professor. [applause] >> thank you, for that and kind introduction. let me start with what an honor it is, especially students in the clinton school. i have a master's from the school of public policy -- a similar degree. i have always found it amazing i have been able to carve a career for myself, as you are doing. and thinking about how the world could be made a better place. for those of you at the clinton school, i think there is frankly no more rewarding thing that you can do. my appreciation for you. thank you very much for inviting me. speaking of making
to fight against the tax increase for the wealthiest people. they take a ski vacation in france and a cost $20,000. they spend money like it is garbage. cheerleading for tax breaks for people who do not need it. they have admitted they do not need it. the republicans and the democrats are not facing the key issue with our budget, which is medical cost. it is insanity we do not hear enough and i wish c-span would have more programs dealing with all of the options that could lessen the burden on the government and the taxpayer for the medical costs. i believe that in medicare buy- in -- i have 10 years left to go until medicare. i pay $620 a month for my health care. that is a lot of money. i would give that to the government and would usn't use t $100 or $200 a year. host: that is an important issue. we will focus more as the affordable care act t kicks in. for the suggestion -- thank you for the suggestion. the deficit is close to $16.4 trillion. this is part of the debate we will see at the start of the new congress. the so-called fiscal cliff was coined by ben bernanke. the story from "r
. >>> about 20 seconds to the close in europe. they've had some new economic data out of france, for instance. some finance ministers meeting as well in brussels. >> it's a bit of a holding pattern waiting for the fiscal cliff, for the greek debt buyback to go through on thursday. >>> the european markets are closing now. >> so no great direction in the markets today. it is interesting, i think, both angela merkel attended today her party conference, the cdu, the christian democrats, conservatives, she launched her campaign to run germany for a third time. the election is in the third quarter of next year. she actually warned against premature optimism over the crisis saying the worst is not over and we must be cautious going forward. now to a certain extent she would say that, would she not? otherwise we're not out of the woods. keep me in charge. but that was the message that came out of germany today. elsewhere as we kind of wait for things to happen, it's interesting the bond markets continue to rally. we were talking about this yesterday that greece has priced the debt buyback where it h
're not being impacted at this stage. we are in the france, uk and spain and all of our businesses are growing in each market. we're hiring in all of those markets. anybody who wants to know. >> have you changed the mix of samples depending on the economic environment? for instance in 2008 did you have maybe a lower end price point product as well as a higher end or no? >> that's one thing about the beauty industry, trends are always changing. it's an accessible luxury. you've heard of the lipstick effect. when the company goes down people want to treat themselves. one thing we've seen this year is male trends. nail polish, nail art. >> carl loves nail polish. he just loves it. >> what are all those people who give out samples in department stores going to do when you put them out of business? >> they're doing something different. department store sampling and sampling in stores is a loyalty moment. it's not a great thing to do for customer acquisition. you still have to get a customer to walk up to you. we're doing something really different. it's customer acquisition and it's in a very targe
on this day after christmas. the uk and france among those celebrating foxing day. we start off with, what else, retail. dips in spending in the mid-atlantic and northeast regions. luxury sales also weak. >> we're coming off the worst christmas eve for the dow since 2006. as the president cuts short his hawaiian vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys.
of the eurozone countries and is acting as it should. he was optimistic on france as well despite the fact the data is indicating we'll still get a contraction in the third quarter, for most of the eurozone. germany's economic position is arguably deteriorating but still schauble there is relatively optimistic that the crisis is over. in the meantime what is also happening is this money is beginning to flow into, from the public safety net to support the banks so you have the recapitalization of the banks but that isn't of course good news for everybody in the case of the ipo from last year you have 53,000 small shareholders there effectively having their positions in the debt smashed against the whole. they've been selling out again today to try and retrieve what they can because it is in the negative equity and arguably they'll get nothing as we go through the motions further down the line. it lost another 25% of what is left of the market capitalization today. a number of the other spanish banks are also in negative territory and some of the spanish big industrials are also down today.
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